The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has dismissed reports claiming it approved Shell International Plc’s $1.3 billion sale of its onshore assets to Renaissance Consortium.
In a statement issued by Olaide Shonola, Head of Public Affairs and Corporate Communication, the Commission clarified that the information published by Businessday on September 11, 2024, is inaccurate and did not come from the NUPRC.
The NUPRC reaffirmed its commitment to transparency and assured that it will make an official announcement regarding the transaction at the appropriate time. The Commission urged stakeholders and the public to disregard the misleading report, which it described as unfounded.
This clarification comes as discussions continue over Shell’s planned divestment from its Nigerian onshore operations, a move that has been under scrutiny due to environmental and legal concerns. Shell had previously indicated its intention to sell its Niger Delta assets to focus on deepwater and gas investments.
However, the approval process is still pending, awaiting final consent from President Bola Tinubu, who also serves as Minister of Petroleum Resources.
